A bit late – but here is the first BUZZ of 2021!
* I was truly surprised when I received my
$600 economic stimulus payment in the mail on January 4th! .
Check out this “IRS Statement about Second Economic Impact Payments”.
* I forgot to include the following “extender”
extension in my December post on the 1040 components of the second economic
stimulus package. The totally ridiculous
IRS Section 163(h) deduction of qualified mortgage insurance premiums as mortgage
interest, which never should have been allowed in the first place, is extended
for 2021.
* Good advice in Russ Fox’s annual January
post “It’s Time to Start Your 2021 Mileage Log” at TAXABLE TALK – if you haven’t
already done so.
Of course, keep in mind that employees can no
longer deduct un-reimbursed employee business expenses on Schedule A. So, if you are an employee a mileage log may
be important in terms of getting reimbursed by your employer it will not
provide you with a federal tax deduction.
FYI, NY state continues to allow employee business expenses in excess of
2% of AGI as an itemized deduction on the state income tax return.
* Erica York of THE TAX FOUNDATION suggests “Three New Year’s Resolutions for Tax Policymakers”.
All three are good resolutions – and
obviously all three will be totally ignored by tax policymakers.
* Hey – did you see my new free monthly
online newsletter BOBSERVATIONS yet? Why
not? Click here.
* For NJ senior and disabled homeowners – “Deadline to Apply for the Senior Freeze Property Tax Reimbursement Extended Again” -
“New Jersey property owners who are
eligible for the Senior Freeze property tax reimbursement program will have an
additional month to apply for the relief program, with the application deadline
now being extended until February 1, 2021.”
* Ashlea Ebeling
tells us about the “Healthcare And Childcare FSA Fix For 2021, Finally” at
FORBES.COM.
THE LAST WORD
Clearly yesterday's chaos at the Capital was the direct result of Trump's words and deeds.
But every single Trump supporter, defender and enabler must share equal responsibility for the treasonous attack on the Capital.
Pearl Harbor was an attack on America.
9/11 was an attack on America.
The storming of the Capital was an attack on America.
There is no difference between these three actions.
After yesterday any American who continues to support and defend Trump is clearly a traitor to America and American democracy.
There has NEVER been an intelligent, acceptable or rational reason to support, defend and enable Trump.
TTFN
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